KOLKATA, Sept 29:Diversified PSU Balmer Lawrie &
Co is likely to miss the corporate plan revenue target for the
current fiscal as it is expecting a “flat growth” in turnover,
a senior company official said.
Although the business verticals of the Mini Ratna,
under the Ministry of Petroleum and Natural Gas, are “immune
to the current slowdown” of the economy, some strategic
business units such as logistics and industrial packaging (IP)
have been marginally affected due to the downturn, Balmer
Lawrie CMD Prabal Basu told PTI.
“The company will miss the 2020 corporate plan revenue
target for the current financial year,” Basu said.
The city-headquartered firm is expecting a “flat
growth” this fiscal as the net turnover is likely to be in the
range of last year’s figure of Rs 1,857 crore, he said.
The public sector enterprise had recorded Rs 1,796
crore of net turnover in 2017-18.
It had hired consulting firm Strategy& to chart out
its 2020 corporate plan.
The logistics division has been “marginally hit” due
to dip in export-import activities, while barrel sales of the
IP division have fallen owing to decrease in mango pulp
exports, Basu said.
Talking about its travel division, he said the
government bookings are less than that of previous years as
the offices are opting for video-conferencing and other
digital modes for meetings and interactions.
Basu also said that the slowdown in the automobile
segment did not have much impact on its grease and lubricants
division as the company has been largely catering to the
industrial segment. (PTI)
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